The ＂cash loan＂ rectification plan was introduced, and 32 senior executives of listed companies were placed on file for investigation.

　　CCTV News:Recently, the "cash loan" business has developed rapidly, but it also highlights some outstanding problems such as excessive lending, repeated credit granting, improper collection, abnormally high interest rates, and invasion of personal privacy. On December 1st, the People’s Bank of China and the China Banking Regulatory Commission jointly issued a cash loan remediation plan.

　　This plan clearly stipulates the cash loan problem that has attracted much attention in the near future. No organization or individual may engage in lending business without obtaining the qualification for lending business according to law. In addition, regarding the usury problem that cash loans are generally questioned, the document also clearly states that the comprehensive capital cost charged by various institutions to borrowers in the form of interest rates and various fees should comply with the provisions of the Supreme People’s Court on private lending interest rates, and it is forbidden to issue or match loans that violate the relevant interest rate provisions of the law.

　　No dunning by means of violence, intimidation or harassment.

　　All kinds of institutions or entrusted third-party institutions are not allowed to collect loans by means of violence, intimidation, insult, slander or harassment.

　　Clean up and rectify network micro-loan companies

　　According to the document, the clean-up and rectification of online microfinance will be carried out.Suspension of newly approved network (Internet) microfinance companies; Suspend the new batch of microfinance companies to carry out microfinance business across provinces (autonomous regions and municipalities). If the preparatory establishment has been approved, the approval for opening will be suspended. For approved institutions that do not meet the relevant regulations, their business qualifications should be re-checked.

　　Huang Zhen, Professor of Central University of Finance and Economics and Director of Institute of Financial Law: "The stock of online small loan companies should be investigated and classified, especially to see if these companies are suspected of usury, improper collection, invasion of personal privacy, personal information, etc., one by one."

　　32 listed company executives have been investigated.

　　Gao Li, spokesperson of the CSRC, said that the CSRC has always paid close attention to the performance of the actual controllers and chairmen of listed companies in the supervision work, and resolutely investigated and dealt with all kinds of illegal acts committed by them who abused their control rights and took advantage of their positions and dominant positions. The CSRC has filed an investigation on 32 actual controllers and directors.

　　Judging from the types of cases, there are cases in which companies are instructed to defraud the issuance approval or violate the regulations, cases in which information advantages are abused to manipulate the market and insider trading, and cases in which loyalty obligations to companies are violated and the interests of listed companies are damaged by breach of trust. From the perspective of the subjects involved, some collude with private equity institutions and other internal and external parties to manipulate, some collude with relatives, friends and colleagues to carry out insider trading, and some instruct subordinates to concoct and spread false information.

　　Gao Li, spokesperson of CSRC.: "Since 2016, I will investigate 32 actual controllers and directors, involving 13 listed companies on the main board, 11 listed companies on the small and medium-sized board and 2 listed companies on the Growth Enterprise Market. Administrative penalties have been imposed on Wen Deyi, Guo Congjun, Xian Yan, Zhang Rongen and others, and some personnel have been banned from the securities market according to law, and suspected criminal acts have been transferred for criminal responsibility according to law. "

　　"High delivery" cover reduction will be strictly supervised.

　　Regarding the issue of "high transfer" to cover the reduction of some listed companies, the CSRC said that it should be strictly supervised. In recent years, some listed companies have used "high turnover" to cooperate with major shareholders to reduce their holdings and lift the ban on restricted shares, which has caused adverse effects on the market. Gao Li, spokesperson of the CSRC, said:

　　Gao Li, spokesperson of the China Securities Regulatory Commission, said that she would step up the inquiry about the "high-transfer" scheme launched by listed companies, strengthen the regulatory linkage with the secondary market transaction verification, and strengthen the on-site inspection of "high-transfer" listed companies, especially the "iron cocks" who have not paid cash dividends for a long time. Those who find violations of laws and regulations will be dealt with seriously according to law and will not be tolerated.